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∙ 15y ago
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What happens if the primary on a car loan files bankrutcy?
As long as 1 party is making payments on the auto loan, it is not required to be included in the bankruptcy. I'm not sure what you mean. You may not be in default and lose the asset (basically because a car is generally exempt in BK), but each and every asset, each and every liability must be listed/reported in BK. There are NO exceptions. You do not pick and chose what is "included".
Wifes assets if you file bankruptcy?
if your legally married when you file bankruptcy, you must include every single asset including the spouses. depends on what type of bk you file. you may be able to keep your assets.
In my settlement lump sums come every 5 years can the bankruptcy court take from me?
Sure. It is currently an asset...you just don't have the cash yet. Added: Check into this with the bankruptcy judge or ask the Clerk of The Court's office. There are SOME streams of income that are judgment free in a bankruptcy. You will have to check further to see if your particular one qualifies.
Still paying on a car and the dealership went out of business?
Bankruptcy lawyers will probably sell every asset to other companies, and someone else will take over your debt and make a profit from your interest
In NY State is real property not considered part of an estate?
Real property is a part of the estate in every state. It is usually the biggest asset the estate has. However, depending on the ownership of the property, it may not be a part of the estate because it automatically belongs to someone else when they die. If it is owned as 'joint tenants' or 'tenants by the entirety' it will automatically go to the surviving person without entering the estate.
Will Every MET will have a critical asset?
no
If you receive a small pension after filing bankruptcy do you get to keep it it?
In virtually every case pensions are not lost in a bankruptcy even if you go into a banrkruptcy with a pension or a 401K or an IRA. There was a US Supreme Court case from 1992 I believe (Patterson v. Shumate) that basically said that pensions funds are not part of the bankruptcy estate and therefore not subject to the trustee taking them to pay your debts.
Will Every MET have a critical asset?
No it will not.
What is a criminal conversion charge in the state of FL?
The Statutes do not recognize the term " Criminal Conversion. " Start with this, if it fits your situation and then determine if if the value of the assets determines the severity of the charge. 222.30 Fraudulent asset conversions.- (1) As used in this section, "conversion" means every mode, direct or indirect, absolute or conditional, of changing or disposing of an asset, such that the products or proceeds of the asset become immune or exempt by law from claims of creditors of the debtor and the products or proceeds of the asset remain property of the debtor. ( Fla. Crim. Statutes)
How often can you buy exempt narcotics?
Every 48 hours.
Is a judgment set aside after bankruptcy?
BK generally won't discharge a judgement from a lawsuit or action made before the filing of the BK. Also you don't file BK for a thing...a this or a that...YOU file bankruptcy. It involves and everything you owe and everything you own. Some certain things may be exempt (or treated specially) from being used to pay a debt, and some debts may not be cleared. A secured debt, that is one that has a right to a certain asset, has first call on the funds from the sale of the asset....and if that isn't enough, any additional amounts can be claimed as unsecured debts owed, and provided by other assets. But the important thing to start is you do not pick and chose what you want to include...because just like your question...you would include the loan (and every debt)...but not the property, or assets!
Is software considered a fixed asset?
if software is purchased and price is paid at once and used for many years then it is fixed asset but if you purchase a software and after that every year you need to renew the license of using that software then this lisence cost is current asset and price paid for purchasing software is fixed asset. For Example: software purchased for $1000 and lisence renew fee for every year is $100 then $1000 is fixed asset and $100 is current asset or revenue asset.
